Shopify’s net loss narrowed to $4.53 million in the quarter ended March 31 from $6.37 million a year earlier, while revenue nearly doubled to $37.35 million.

The company’s shares were up 51.2 percent at $25.72 in afternoon trading on the New York Stock Exchange. The stock, which was the top percentage gainer on the exchange, opened at $28 and hit a high of $28.70.

The company’s Canada-listed shares rose to a high of C$35.03 ($28.73).

Morgan Stanley, Credit Suisse, Raymond James and RBC Dominion Securities are among the underwriters for the IPO.